Real Estate Investing in Carnation, Washington (98014)
Everything the listing leaves out — vacancy, rent trend, cap rate, landlord climate. All free.
Should you buy in 98014 (Carnation, WA)? Our answer, based on the numbers below.
Proceed carefully. Weak appreciation or affordability makes this a harder case for most buyers.
Structural challenges here. The numbers may look cheap but operational risk is high. Only for experienced, hands-on investors.
- Tenant-protective state: Landlord rating 1.0/5 — slower evictions, more regulations.
- High price-to-rent: Price-to-rent ratio 40.0 — hard to cash-flow at these prices.
• Modeled rent — no observed market rent for this ZIP; the figure is estimated from HUD fair-market rent.
What’s happening in Carnation, WA (98014)?
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Market Analysis: 98014 Carnation
The 98014 ZIP in Carnation, WA is a local-operator market. Outside capital chasing a $1.0M entry has to pair deep knowledge with the discount.
Distressed does not mean uninvestable. It means the margin for error is thinner. ZIP 98014 rewards the prepared, punishes the overconfident, and leaves the math unchanged either way.
ZIP 98014's metrics run below King County's averages on price growth and tenant stability. Investors who ignore that regional gap tend to relearn it the hard way.
Demographically, 98014 is a market where tenant selection matters more than unit finishes. Operators who understand that tend to do fine; those who do not tend to learn why the ZIP trades at a discount.
Strategy in 98014 is an operator game, not a passive one. On balance, entry prices of $1.0M are inviting, the management lift is real and non-optional.
Here's what matters if you're considering buying a home in Carnation:
Property Strategy for 98014
Which property type performs best in this market?
📊 Compare All Property Types →
| Type | Median Value | Est. Rent | Cap Rate | 5yr CAGR | $/Bedroom |
|---|---|---|---|---|---|
| 2BR | $680,923 | $2,340 | 2.5% | +5.3% | $340,462 |
| 3BR | $905,247 | $3,060 | 2.4% | +6.9% | $301,749 |
| 4BR | $1,210,602 | $3,600 | 2.1% | +7.9% | $302,651 |
| 5BR | $1,277,014 | — | — | +7.6% | $255,403 |
Market Trends
Home Value History (with trend line)
📊 How Does 98014 Compare?
| Metric | 98014 | Carnation | Seattle-Tacoma-Bellevue, WA | Washington |
|---|---|---|---|---|
| Home Value | $1,009,790 | $1,009,790 | N/A | $591,536 |
| 5-Year CAGR | 3.0% | 3.0% | N/A | 5.9% |
| Avg Rent | $2,106 | $2,106 | N/A | - |
| Cap Rate | 1.6% | 1.6% | - | - |
Similar ZIPs Within 25 Miles
Compare other nearby markets to see if a neighbor offers a better fit.
Landlord Ground Truth
Real numbers from people who own or manage rentals in ZIP 98014 (Carnation, WA). Anonymous, moderated, never written by AI.
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Property managers serving King County
Manage rentals here? List your business →Alki Property Management LLC specializes in apartment rentals. summary from their website
Brink Property Management offers residential property management and vacant home management services in Bellevue, providing marketing, tenant screening, rent collection, and maintenance. summary from their website
Full Service Property Management offers compassionate property management across Metro Seattle, including multi-family management, property marketing, and maintenance services. summary from their website
Listings are shown for convenience — Repit doesn’t endorse or vet these companies. Ratings shown come only from email-verified visitors.
📊 Market Snapshot
| Home Value | $1,009,790 |
| Monthly Rent | $2,106 |
| Price-to-Rent | 40.0:1 |
| 1% Rule | ✗ Fails |
💰 Return Metrics
| Gross Yield | 2.5% |
| Cap Rate | 1.6% |
| 5-Year IRR | 4.6% |
📈 Home Appreciation
| 1-Year | +0.1% ▲ |
| 3-Year CAGR | +2.5% ▲ |
| 5-Year CAGR | +3.0% ▲ |
| 10-Year CAGR | +7.1% ▲ |
🏠 Rent Trends
| 1-Year | N/A |
| 3-Year CAGR | N/A |
| 5-Year CAGR | N/A |
The current 30-yr mortgage rate (6.8%) exceeds the estimated cap rate (1.6%). Financing reduces your cash-on-cash return below the cap rate. Markets like this may still make sense as IRR plays — factoring in appreciation, depreciation, and a future refinance when rates drop.
Run an IRR Analysis →⚠️ Risk Signals
Composite view of factors that can impact a ZIP's stability and your downside risk.
Demographics in 98014
Population: 7,681
Crime & Safety
Crime & Safety Data Coming Soon
We're integrating comprehensive crime statistics including violent crime rates, property crime, and safety scores to help you make informed investment decisions.
Expected: Q1 2025
🎓 Schools in 98014
Schools in This ZIP Code
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We evaluate schools based on factors that research shows actually impact educational outcomes:
- Class Size — Smaller classes mean more individual attention
- School Funding — Resources available for programs, staff, and facilities
- Community Factors — Neighborhood characteristics that influence student success
- School Environment — Size, type, and structure
Scores are updated annually using federal education data.
🎓 Nearby Colleges & Universities
Frequently Asked Questions
Is Carnation in WA worth investing in?
Investors tracking Carnation, WA will find a 2.0/5 rating supported by $1.0M median home values and $2,106/mo rents. That profile suits long-term holders targeting steady returns.
How much rent can I charge in Carnation, WA?
Carnation, WA rentals go for roughly $2,106/mo a month. That puts gross yield in solid territory relative to $1.0M acquisition costs.
What is the renter demographic in Carnation, WA?
Tenant quality in Carnation, WA ranks as solid. Landlords generally report consistent occupancy at market rents of $2,106/mo.
What investment strategy works best in Carnation, WA?
In Carnation, WA the solid play is typically careful cash-flow rentals with hands-on management. The combination of $1.0M prices and $2,106/mo rents suits that approach.
Do rentals sit vacant long in Carnation, WA?
Expect elevated vacancy in Carnation, WA. Rents at $2,106/mo are absorbed by the tenant base without meaningful lag.
You know 98014 now. You don’t know where it ranks.
This page stays free — all of it. What one page can’t tell you is how 98014 compares to every other market. Investor ($19/mo) screens every U.S. ZIP by cap rate, the 1% rule, vacancy and landlord climate, and exports your shortlist.
How 98014 ranks in Seattle-Tacoma-Bellevue, WA
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